ECON1102 Course Outline (T2) PDF

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UNSW Business School Course Outline

ECON1102 Macroeconomics 1 - 2019 Study Level Undergraduate

Term Term 2

business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

UOC 6 Units of Credit

Location On Campus

School Economics

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1. Course Details Summary of Course Macroeconomics studies the aggregate behaviour of the economy. This course provides an introduction to the economic analysis of key macroeconomic variables such as output, employment, inflation, interest rates and exchange rates. The important elements of the course include measurement of macroeconomic variables, the development of models and theories to explain the behaviour of macroeconomic variables, the use of empirical evidence in evaluating different models, and the role of government policy in seeking to influence macroeconomic outcomes. The course will provide students with a framework for understanding the workings of the whole economy and the various interactions among households, business and governments.

Teaching Times and Locations Please note that teaching times and locations are subject to change.Students are strongly advised to refer to the Class Timetable website for the most up-to-date teaching times and locations. View course timetable

Course Policies & Support The Business School expects that you are familiar with the contents of this course outline and the UNSW and Business School learning expectations, rules, policies and support services as listed below: Program Learning Outcomes Academic Integrity and Plagiarism Student Responsibilities and Conduct Special Consideration Protocol for Viewing Final Exam Scripts Student Learning Support Services Further information is provided in the Assessment and Policies and Support sections.

Course Aims and Relationship to Other Courses Macroeconomics 1 (ECON1102) is offered as part of the first year core in the BEc degree and as an option in the BCom degree. It is a required course for anyone undertaking an economics major. Students are introduced to the study of economics via Microeconomics 1 (ECON1101) which studies decision making by individuals and firms and examines the role of governments in seeking to ensure the efficient operation of markets. Macroeconomics 1 builds on these microeconomic concepts and models to study economic decisions and outcomes and the role of government in the national and international economy. A pass in Microeconomics 1 is a prerequisite for enrolment in Macroeconomics 1. ECON1102 and ECON1101 cannot be taken concurrently. With the exception of Microeconomics 1, no previous study of economics is assumed. Macroeconomics 1 is a prerequisite for all upper-year macroeconomics courses and most other upperlevel economics courses offered by the School of Economics (i.e., those with course codes beginning

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with 2 or 3.) In addition, the concepts, models and approaches developed in Microeconomics 1 and Macroeconomics 1 provide the foundation for business studies in accounting, finance, marketing and management.

Student Learning Outcomes The Course Learning Outcomes (CLOs) are what you should be able to demonstrate by the end of this course, if you participate fully in learning activities and successfully complete the assessment items. CLOs also contribute to your achievement of the Program Learning Outcomes (PLOs), which are developed across the duration of a program for all coursework students in the Business School. More information on PLOs is available under Policies and Support . PLOs are, in turn, directly linked to UNSW graduate capabilities and the aspiration to develop “globally focussed graduates who are rigorous scholars, capable of leadership and professional practice in an international community”. The following table shows how the CLOs for this course relate to the overall PLOs and indicates where each CLO and PLO is assessed:

Course Learning Outcomes

Program Learning Outcomes

Course Assessment Item

On successful completion of the course, you should be able to:

This course helps you to This learning outcome will be assessed in the following develop the following Program Learning items: Outcomes:

PLO 1: Business 1. Locate and interpret macroeconomic data; knowledge and identify and explain important macroeconomic concepts.

Tutorial Worksheets Online Multiple Choice Questions Mid-Term Test Final Exam

PLO 1: Business 2. Analyse simple macroeconomic economic knowledge models, and use these models to explain PLO 2: Problem solving and interpret behaviour of key macroeconomic variables.

Online Multiple Choice Questions Mid-Term Test Final Exam

PLO 2: Problem solving

Tutorial Worksheets Online Multiple Choice Questions Mid-Term Test Final Exam

PLO 3: Business communication

Tutorial Worksheets

PLO 5: Responsible business practice

Online Multiple Choice Questions Mid-Term Test

3. Identify current economic issues and debates, then apply simple macroeconomic models to analyse and interpret policy issues. 4. Construct written work, which is logically and professionally presented, and then communicate ideas in a succinct and clear manner. 5. Recognise alternative ways of measuring a country’s economic performance.

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2. Staff Contact Details Position Title

Name

Email

Location

Phone

Consultation Times

Lecturerincharge

Glenn Otto

Email

Room 433, UNSW Business School

9385 3332

Mon 1-2 & Wed 10-11 or by appointment

Lecturer

Peter Nichols

Email

Room 465, UNSW Business School

9385 9935

Thur 10-1 or by appointment

Lecturer

Sang-Wook (Stanley) Cho

Email

Room 406, UNSW Business School

9385 3287

Wed 10-12 or by appointment

Course Administr ator

Neil Hart

Email

Room 436, UNSW Business School

9385 7017

Wednesday 12-3

Tutors: A full list of tutors will be posted on Moodle – Staff Contacts.

Communications with staff The Lecturer-in-Charge ( Glenn Otto ) is responsible for the overall direction and academic content of the course. You can also contact your lecturer about academic matters. The lecturers in Macroeconomics 1 will hold regular office hours throughout the Term. Questions about administrative matters on tutorials, such as your allocation to a tutorial group or your marks during the session should be directed to the Course Administrator, Neil Hart . Email is the recommended means of initial communication with the teaching staff for this course. Academic staff will generally reply to email within 48 hours (except on weekends). You should use your UNSW email to contact academics and include your full name and student number in the email. For detailed discussion of course subject material it may be necessary to attend a lecturer’s scheduled office hours. We encourage you to provide course feedback and comments via email, if you wish. Please note that academics have no advance notice of the date and time of the exam.

Exam Study Period Pitstop In the weeks leading up to final exams, the School will be providing Pitstop, an opportunity for consultation with tutors as you revise for the exams. Details of Pitstop locations and hours for this course will be advised closer to the time.

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3. Learning and Teaching Activities Approach to Learning and Teaching in the Course The philosophy underpinning this course and its Teaching and Learning Strategies is based on " Guidelines on Learning " that Inform Teaching at UNSW. The specific approach to teaching and learning in Macroeconomics 1 is to engage students in the analysis of macroeconomic models and their applications in a relevant and interesting manner. The lectures, tutorials and assessment tasks have been designed to appropriately challenge students and support the achievement of the desired learning outcomes. A climate of inquiry and dialogue is encouraged between students and teachers and among students (in and out of class). The lecturers and tutors aim to provide meaningful and timely feedback to students to improve learning outcomes. With appropriate guidance, students are encouraged to take responsibility for their own learning.

Learning Activities and Teaching Strategies The examinable content of the course is defined by the content of the lectures, the designated reading from the textbook (and any other required readings) and the content of the tutorial program.

Lectures The purpose of lectures is to provide a logical structure for the topics that make up the course; to emphasise the important concepts, models and methods of each topic; and to provide relevant examples to which the concepts and methods are applied. Not all examinable material can be covered in lectures. Lecture material is supplemented by required reading of the appropriate parts of the textbook and the material covered in the tutorial program.

Tutorials The purpose of tutorials is to provide an opportunity for small group discussion of the issues to which economic concepts and methods developed in the lectures can be applied. Attendance at tutorials is expected. Tutorials will be divided into two parts.

Tutorial Worksheets In the first part (15-20 mins) of a tutorial, a worksheet will be distributed to all students by your tutor. Working individually or in small groups you will be able to work on a series of short questions and problems related to the previous week’s lecture material. Your tutor will be available – if necessary – to provide assistance with the questions. All students will need to complete and submit their own individual worksheet. The worksheets will be collected by your tutor and will be marked, where your mark will primarily reflect the amount of effort that you have put into completing the worksheet. Overall the worksheets will count for 10% of your total grade in Macro 1.

Tutorial Questions There will be a weekly set of tutorial problems and questions that review and build on the lecture material. These provide applications and examples of economic concepts and models introduced in lectures. Ideally you should attempt the set of weekly tutorial questions before each tutorial and use the tutorial to raise any issues or problems that you might have. business.unsw.edu.au - CRICOS Code 00098G View course outline in browser

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The second part of the tutorial will be devoted to discussing the tutorial problems. You should be prepared to contribute to tutorial discussion. Since it may not be possible to cover all of the questions in a tutorial, solutions to the tutorial questions will be posted on the course Website at the end of each week. The Tutorial Program will be available on the course website.

Multiple Choice Questions Multiple choice questions (MCQs) covering the material in each week’s topic will be provided. 10% of the marks in the course will be based on your performance in a short weekly MCQ quiz. These quizzes provide feedback on your progress and in your understanding of important concepts. The weekly MCQs are representative of the type of questions asked on the final exam.

Out-of-Class Study While students may have preferred individual learning strategies, it is important to note that most learning will be achieved outside of class time. Lectures can only provide a structure to assist your study, and tutorial time is limited. An “ideal” strategy (on which the provision of the course materials is based) might include: Reading of the relevant chapter(s) of the text and any readings before the lecture. This will give you a general idea of the topic area. Attendance at lectures. Here the context of the topic in the course and the important elements of the topic are identified. The relevance of the topic should be explained. Attending the tutorials and attempting the tutorial questions prior to the tutorial. This will also provide a self-test of your understanding, and identify those parts of the topic with which you have problems.

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4. Assessment Formal Requirements In order to pass this course, you must: achieve a composite mark of at least 50 out of 100; meet any additional requirements described in the Assessment Summary section. You are expected to attempt all assessment requirements in the course.

Assessment Structure Assessment Task Tutorial Worksheets Multiple Choice Questions Mid-Term Test

Final Exam Total

Weighting 10% 10% 20%

60% 100%

Length

Due Date

As required

Weekly

As required

Weekly

(approx.) 40-50 minutes

Saturday 13 July (possible schedule 9 am - 12 noon)

2 hours

University Exam Period

–

–

Assessment Summary As a student at UNSW you are expected to display academic integrity in your work and interactions. Where a student breaches the UNSW Student Code with respect to academic integrity, the University may take disciplinary action under the Student Misconduct Procedure. To assist you in understanding what academic integrity means, and how to ensure that you do comply with the UNSW Student Code, it is strongly recommended that you complete the Working with Academic Integrity module before submitting your first assessment task. It is a free, online self-paced Moodle module that should take about one hour to complete.

T utorial Worksheets (10%) Worksheets will be distributed and collected in tutorials. Your highest 6 (out of a possible 7) marks on the worksheets will count towards your overall mark for tutorial worksheets. Students should note that 80% attendance is expected in this course.

Multiple Choice Questions (10%) Students can obtain immediate and up to date feedback on their understanding of the ideas and concepts in Macroeconomics 1 by completing weekly tests provided through Play Academia. Successful completion of these tests will count for a total of 10% of the course marks.

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Mid-Term Test (20%) During the semester there will be a mid-term test. See the above table for the day and time. Details on the location, format and coverage of the mid-term test will be provided on the course website. No notes, lecture or course material or electronic devices will be permitted to be used during the mid-term test. You should make every effort to take the mid-term test. Students who are unable to attend the test may wish to apply for Special Consideration . In cases of serious illness, students will need full and convincing documentation of that illness. Employment obligations or holiday plans of any kind are not acceptable reasons for absence from any assessment. Students who are not granted special consideration will receive a grade of zero for the mid-term test. Applications for special consideration must be lodged through myUNSW with 3 working days of the assessment. (Log into myUNSW and go to My Student Profile tab > My Student Services channel > Online Services > Special Consideration). Then submit the originals or certified copies of your completed Professional Authority form ( pdf - download here ) and any supporting documentation to Student Central).

Final Exam (60%) The purpose of the final exam is to assess understanding of the macroeconomic concepts and models introduced in the course and to test the ability to use these to interpret and analyse macroeconomic issues. The final exam will be held in the University examination period and will be 2 hours in length. It is the student’s responsibility to attend the specified exam venue on time. The final exam will cover material from the entire course. The format of the final exam is multiple choice questions. Further information will be provided at the end of the semester.

Assessment Feedback Feedback on student performance from formative and summative assessment tasks will be provided to students in a timely manner. Assessment tasks completed within the teaching period of a course, other than a final assessment, will be assessed and students provided with feedback, with or without a provisional result, within 10 working days of submission, under normal circumstances. Feedback on continuous assessment tasks (e.g. laboratory and studio-based, workplace-based, weekly quizzes) will be provided prior to the midpoint of the course.

Special Consideration

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You can apply for special consideration when illness or other circumstances beyond your control, interfere with your assessment performance (to apply see Special Consideration on the UNSW Current Students page). Special Consideration is primarily intended to provide you with an extra opportunity to demonstrate the level of performance of which you are capable. Special Consideration applications will be assessed centrally by the Case Review Team within Student Lifecycle. The Case Review team will update the online application with the outcome and add any relevant comments. Please note the following: Applications can only be made through Online Services in myUNSW. Applications will not be accepted by teaching staff. The lecturer-in-charge/course coordinator will be automatically notified when you lodge an online application for special consideration. Applying for special consideration does not automatically mean that you will be granted a supplementary exam or other concession. If you experience illness or misadventure in the lead up to an exam or assessment, you must submit an application for special consideration, either prior to the examination taking place, or prior to the assessment submission deadline , except where illness or misadventure prevent you from doing so. If you sit the exam/submit an assignment, you are declaring yourself well enough to do so and are unable to subsequently apply for special consideration. If you become unwell on the day of the exam, you must provide evidence dated within 24 hours of the exam, with your application. The current provisions will continue for exceptional circumstances, for example, if a student falls sick during an exam. Other exceptions will continue to be examined on a case by case basis by the Student Lifecycle team. Special consideration requests do not allow the awarding of additional marks to students. Further information on Business School policy and procedure, as well as supplementary exam dates for the current term, can be found under “Special Consideration” on the Policies and Support page. There is no requirement to pass each component of assessment in order to pass the course.

Protocol for Viewing Final Exam Scripts The UNSW Business School has set a protocol under which students may view their final exam script. Individual schools within the Faculty may also set up a local process for viewing final exam scripts, so it is important that you check with you...